SEC Filing Summary: Form 8-K
Business Context and Reporting Period
Company: New York Mortgage Trust, Inc. (Note: Metadata referenced "ADAMAS TRUST, INC.", but the filing text identifies the registrant as New York Mortgage Trust, Inc.)
Filing Date: December 20, 2012
Event Date: December 14, 2012
Reporting Period: Fiscal Year 2012 (partial bonus) and Fiscal Year 2013 (salary adjustments)
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation adjustments.
Material Changes
The Compensation Committee approved the following changes regarding executive compensation:
- 2012 Partial Cash Incentive Bonuses:
- Steven R. Mumma (CEO and President): $300,000
- Nathan R. Reese (Vice President and Secretary): $81,250
- 2013 Base Salary Adjustments:
- Steven R. Mumma: $425,000
- Nathan R. Reese: $240,000
Guidance, Outlook, and Management Commentary
The bonuses were granted based on an initial review of the Company's performance and projected financial results for the 2012 fiscal year. The Compensation Committee expects to determine the balance of any additional discretionary cash incentive bonuses during the first quarter of 2013, following the completion of the final 2012 performance review.
Investor Verification Checklist
- Verify the final 2012 performance review results to determine if additional bonuses will be paid in Q1 2013.
- Confirm the total 2012 compensation package for Mr. Mumma and Mr. Reese, including any prior bonuses or equity awards not detailed in this 8-K.
- Review the Company's 2012 Annual Report (Form 10-K) for the full financial context regarding the "projected financial results" cited as the basis for these bonuses.